VeChain Price Could Hit $9 In The Near Future: Analysis

The latest VeChain news show that the cryptocurrency project is building up on more partnerships and is expected to be even more popular in the future. Now, some analysts say that the VeChain price is moving forward with a nice momentum  and the VET token is being used more and more in the crypto ecosystem.

What’s interesting is that there are reports by some analysts who believe that the VeChain price will hit $9 soon. Considering the fact that the current value of VET is around $0.0068, this would be an explosive move and one of the largest surges in history.

3 Reasons Why VeChain Price Could Rise In The Near Future

The truth is, the VeChain news now show that the cryptocurrency is getting a lot of attention and it won’t be strange that it rises to new heights soon. First of all, VET is one of the most impressive altcoins in the space and the news on ongoing partnerships and support have influenced many analysts to come with new price predictions.

Second of all, we can see that the VET price has been doing good in 2020, posting gains and hitting new positions. From the chart below, we can see a positive run over the past month.

Currently, the VeChain price is rising with a slow momentum but as the network advances its use of blockchain as a service to industries all around the globe by integration Internet of Things (IoT) into the supply chain management process, VET could revolutionize a lot of business-level transactions through digitization of assets.

VET is trading at $0.0042 against the US dollar now and could soon brach the $0.0050 territory if the momentum in the cryptonews sustains. For all we know, the VET price has been trading well lately.

The Analysis That Predicts A Higher VET Price

One analysis predicts a new VeChain price level, where VET will reach $9 if two or more sustainable Bitcoin races occur. The analyst also noted that the token has all it takes to pass above this level and that this should not be considered as a limit. At the same time, he also advised traders to be cautious because of VeChain’s ties to the Chinese government.

$VET

I think that VeChain is ready to join its Chinese brothers $ONT $QTUM $IOST $NEO.

Don't sleep on the Alipay and Mastercard news anons pic.twitter.com/VQfpahujDE

— Dark Crypto Lady (@DarkCryptoLord) April 26, 2020

As we reported before, the latest VeChain news and partnership was with the Game of Thrones producer who works with Adidas and SBTG. Before this, VeChain partnered with ShareRing which is a blockchain startup that intends to use VET in its payment systems.

Ever since its inception in June 2015, the VeChain network expanded its business and as a result of that, the VeChain price (VET) grew to new heights. The results of this included innovative business solutions, ongoing integrations, strategic partnerships and technology advancements.